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4236 Seminole Towne Center CRA expiration11111 llana mill lIII . rn C Ordinance No. 2011 -4236 rri Y� m Z b _ rn An ordinance of the City of Sanford, Florida relating to community to ¢. redevelopment and amending sections of Chapter 74, Article 11 _ rn Cr Divisions 2 and 3 of the Code of Ordinances of the City of Sanford, rn Florida; providing for the expiration of the Seminole Towne Center r-:, Community Redevelopment Area and Agency and all obligations �- , relating thereto in accordance with controlling documents and law; fir,, r, o 0 providing for amendments to provisions pertaining to the remaining community redevelopment projects and programs of the City; c C providing for legislative findings; providing for implementing g g 9 P 9 4 CD administrative actions; providing for a savings provision; providing •= for conflicts; providing for severability; providing codification and providing for an effective date. n �u Whereas, the City Commission of the City of Sanford, Florida has the power nn n and authority relative to community redevelopment under the controlling provisions of n q State law such as, by way of example only, the provisions of Article VIII, Section 2 of the Constitution of the State of Florida and the provisions of Chapter 163 and Chapter 166, h.:. ° o G, Florida Statutes, and the controlling case law of the State of Florida; and Cr °; O C.C. C.0 ' Gj Whereas, for the purposes of this Ordinance, underlined type shall constitute additions to the original text, * ** shall constitute ellipses to the original text and 0 s#ikethFeegh shall constitute deletions to the original text; provided, however, that G CL completely new text shall not be legislatively scored. r Now, Therefore, be it Enacted By the People of the City Of Sanford, Florida: x••. W to N Section 1. Legislative Findings. A new section of the City Code of the City of m Sanford, Florida is created to read as follows: o (a). The City staff report and City Commission agenda memorandum relating` 0 Cn to this matter are hereby adopted as if fully set forth herein. CD (b). The City of Sanford has complied with all requirements and procedures of Florida law in processing and advertising this Ordinance. -- 1IPage 0 • (c). The City Commission of the City of Sanford finds that the bondholders holding and owning bonds that were issued relative to the Seminole Towne Center Community Redevelopment Area are not, and have not, been prejudiced by the termination of the Seminole Towne Center Community Redevelopment Area and the funding of that Area from tax increment revenues. The City Commission further finds that all controlling legal documents specify, determine and mandate that the obligation of the City to annually appropriate to such the Community Redevelopment Trust Fund pertaining to the Seminole Towne Center Community Redevelopment Area shall terminate on December 31, 2011, whether or not obligations of the Agency for that Area or the City payable from such Trust Fund remain outstanding. (d). The foregoing recitals (whereas clauses) are hereby adopted as the legislative findings of the City Commission of the City of Sanford and incorporated into this Ordinance as if set forth in haec verbs. Section 2. Amendments to provisions of Chapter 74, Article II, Divisions 2 and 3 of the Code of Ordinances of the City of Sanford. The following sections of Chapter 74, Article II, Divisions 2 and 3 of the Code of Ordinances of the City of Sanford, Florida are amended to read as follows: ARTICLE II. COMMUNITY REDEVELOPMENT DIVISION 2. LAKE MONROE WATERFRONT AND DOWNTOWN SANFORD •� . •- 21Page 0 . „ „ tG See. :74 63. AppFopFoateens administratiew. , - - - - = -- - - - - 5 , 31Page 9 . , ?• - Mi 41Page • • �n:rs�:�s�n_TSSST Subdivision 1 14. Lake Monroe Waterfront and Downtown Sanford Community Redevelopment Area Sec. 74-54. Established. There is hereby established and created in accordance with the provisions of F.S. (-1884) § 163.387, a Lake Monroe Waterfront and Downtown Sanford Community Redevelopment Trust Fund hereafter referred to as the "Fund." Sec. 74 -55. Use of funds. The funds allocated to, and deposited into the Fund are hereby appropriated to the Sanford Community Redevelopment Agency, hereafter referred to as the "Agency," to finance the City of Sanford Community Redevelopment Projects within the "Lake Monroe Waterfront and Downtown Sanford Community Redevelopment Area" 4 as created by Reselwtiwi 1719 of the City of Sanford and as may be amended from time -to -time The Agency shall utilize the funds and revenues paid into and earned by the Fund for all and every community redevelopment purpose delegated to it in accordance with controlling law the -;afA-rQ-FneRt Fese as , and as contained in the aonroved plan for redevelopment as provided by controlling law dated D868FRI98F 44, 4994. Said Fund shall exist for a period not exceeding 20 years. 51Page Sec. 74 -56. Appropriations; administration. There shall be paid into the Fund, and the City hereby appropriates, commits and sets over for payment into the Fund, a sum equal to that increment from the income proceeds, revenues and funds of the City derived from or held in connection with the Lake Monroe Waterfront and Downtown Sanford Community Redevelopment Area and the Agency's undertaking and carrying out of the 69FRFRURity FedeyelepmeRt projects therein. Said increment shall be determined and appropriated annually and shall be as set forth in F.S. § 163.387. It shall be in an amount equal to 95 percent of the difference between: (a) The amount of ad valorem taxes levied each year by the City e€- SaRferd and by Seminole County, exclusive of any amount from any debt service millage, on taxable real property contained within the geographic boundaries of the Lake Monroe Waterfront and Downtown Sanford Community Redevelopment Area eemmunity and (b) The amount of ad valorem taxes which would have been produced by the rate upon which the tax is levied each year by the City ef- Sanford and by Seminole County, exclusive of any debt service millage, upon the total of the assessed value of the taxable real property in the Lake Monroe Waterfront and Downtown Sanford Community Redevelopment Area raommunity FedeyelepmeRt aFea as shown by the most recent assessment roll used in connection with the taxation of such property by the City of Saafefd and Seminole County prior to the effective date of this subdivision, providing for the funding of the tenet Fund. 61Page • • The City will annually appropriate to the Fund the aforestated sum at the beginning of the City's fiscal year. The Fund shall receive the tax increment above described only as, if and when, such taxes may be collected by the City. The City's obligation to annually appropriate to the Fund shall commence immediately upon the effective date of this subdivision and continue to the extent permitted by State law, until all loans, advances and indebtedness, if any, and interest thereon incurred by the Agency as a result of the projects within the Lake Monroe Waterfront and Downtown Sanford Community Redevelopment Area have been paid, and only to the extent that the tax increment recited above accrues. The Agency is directed to establish and set up the Fund and to develop and promulgate rules, regulations and criteria whereby the Fund may be promptly and effectively administered, including the establishment and the maintenance of books and records and adoption of procedures whereby the Agency may, expeditiously and without undue delay, utilize said Fund for its allocated statutory purpose subject to annual budgetary approval by the City Commission The Agency is vested with full responsibility for the receipt, custody, disbursement, accountability, management and proper application of all monies paid into the Fund subject to annual budgetary approval by the City Commission The governing body of the Agency shall be the trustee of the Fund. Monies in the Fund may not be spent for community redevelopment projects without the approval of the City Commission in accordance with its budgetary approvals a - Situ e€- Sa+�fer. The Citv Manager is hereby deleaated authority to enter memorandums of 71Page aareement with the Agency in order to provide for the provision of administrative and other services to the Aaencv with all costs beina reimburse to the City by the Aaencv. DIVISION 3. COMMUNITY REDEVELOPMENT AGENCY Sec. 74 -74. Authority for this division. This Division is adopted pursuant to F.S. Ch. 163, Pt. III, and other applicable provisions of law. Sec. 74 -75. City of Sanford Community Redevelopment Agency. The , a6 the 09VeFR body of the Gity-4 L M - , the City of Sanford Community Redevelopment Agency is hereby created and established. Sec. 74 -76. Composition of the agency. The City Commission shall appoint the members of the Agency, which shall consist of a total of five members. Two of the five members shall be nominated by the Board of County Commissioners of Seminole County and appointed by the SaRferd City Commission. The other three members shall be nominated and appointed by the SaRfeFd City Commission. (a) Any person may be appointed as a member if he resides or is engaged in business, which means owning a business, practicing a profession, or performing a 81Page 9 service for compensation, or serving as an officer or director of a corporation or other business entity so engaged, within the City of Sanford corporate limits. (b) The City Commission shall designate a chairff aR person and vice chairs ers n from among the members of the Agency. Sec. 74 -77. Terms of office and removal from office. (a) The terms of office of the members of the Agency shall be for four years—,e*sept M*=* the aPPG 6 Rt-I*lA-Rt-F. 1 (b) The City Commission may remove a member of the Agency for inefficiency, neglect of duty, or misconduct in office only in the that manner prescribed by law. Sec. 74 -78. Duties and responsibilities. The Agency shall be the redevelopment agency to carry out the redevelopment of the aFeaG 148IP8 &6&19861, designated the Lake Monroe Waterfront and Downtown Sanford Community Redevelopment Area and to that end and as such, shall have and exercise all of the powers of redevelopment agencies pursuant to F.S. Ch. 163, pt. III, as amended, and shall have the power granted to it by Seminole County Board of County Commissioners from time-to-time . (a) The Agency shall exercise all the powers necessary or convenient to carry out and effectuate the purposes and provisions of community redevelopment and related Initial terms were staggered terms. Obsolete text has been deleted. 91Page activities except the following which shall be vested in the City Commission of the City of Sanford, Florida: (1) The power to determine an area to be a slum or blighted area. (2) The power to grant final approval to community redevelopment plans. (3) The power to authorize the issuance of revenue bonds. (4) The power to approve the acquisition, demolition, removal, or disposal of property. (b) The Agency shall file with the City Commission and with the Auditor General, on or before March 31 of each year, a report of its activities for the preceding fiscal year, which report shall include at a minimum, a complete financial statement setting forth its assets, liabilities, income, and operating expenses as of the end of such fiscal year. At the time of filing of the report, the Agency shall comply with all procedures regarding notice and publishing as set forth by controlling law. Sec. 74 -79. 101Page 9 i See. 7-4 -8 W. Future multi jurisdictional community redevelopment agency. The City of Sanford, at its option and in accordance with the controlling requirements of law, may consolidate the Agencv d+v+siee with a multi - jurisdictional or countywide community redevelopment agency that may be established in the future by Seminole County. The City shall structure the eemmun Agency leafed -►eeiw so as to facilitate the consolidation of the GeMMURity FedeyelepmeRt Agency into a multi - jurisdictional or countywide community redevelopment agency, and so as to provide for the transfer of any and all projects, programs, assets, property, funds, obligations, and liabilities to Seminole County and /or a multi - jurisdictional or countywide community redevelopment agency as may be established by Seminole County. Section 2. Savings. The prior actions of the City of Sanford relating to the implementation of community redevelopment and the power to engage in community redevelopment activities are hereby ratified and affirmed. Section 3. Conflicts. All ordinances or parts of ordinances in conflict with this Ordinance are hereby repealed. Section 4. Severability. If any section, sentence, phrase, word, or portion of this Ordinance is determined to be invalid, unlawful or unconstitutional, said determination shall not be held to III Page a � invalidate or impair the validity, force or effect of any other section, sentence, phrase, word, or portion of this Ordinance not otherwise determined to be invalid, unlawful, or unconstitutional. Section 5. Codification. Except for Section 1, the provisions of this Ordinance shall not become and be made a part of the Code of Ordinances of the City of Sanford, Florida. Section 6. Effective Date. This Ordinance shall become effective 12:00 midnight January 1, 2012. Passed and adopted this 11 th day of April, 2011. City Commission of the City of Sanford, Floridfi Attest: ! ;I�%I ... - A .�'���'� � s 121Page Approved as to form and legal sufficiency.